Timeframe to Return a Leased Car

Lease Agreement

Leasing a new vehicle instead of buying one has a lot of perks and can be a cheaper option. However, if you lease a vehicle and decide that you want to return it early, then it will depend on how early you decide to return your vehicle. Can you return a leased car within 30 days? Can you cancel a car lease within 30 days? Learn about when you can return a leased car with the finance experts at Jaguar Richfield Certified Pre-Owned & Service, and don’t be afraid to visit our dealership near Minneapolis for all of your car-buying questions.

Can You Cancel a Car Lease Within 30 Days?

Can you cancel a car lease within 30 days of leasing that vehicle? This answer can vary depending on the contract you signed and the dealership from which released a vehicle. If you’re wondering if you can return a leased car within 30 days, then you should know that you usually can, but you may be subject to penalty fees. Many leasing contracts have penalty fees that you’ll have to pay if you return the leased vehicle before the leased term is over.

So, while you can return a lease after one day even, you may end up paying even more than you would for leasing the car for the duration of the lease term. This is because the early payment penalties are usually the totality of the remaining lease payments, the difference between the current lease balance and the estimated lease and value, and other fees.

Things to Consider Before Ending a Lease Early

So, can you return a leased car within three days? As mentioned above, you can more than likely return your leased vehicle this early, but just expect to possibly pay heavy penalty fees. However, if you’re within a year of your lease term being over, then you may not have to pay as hefty of penalty fees or any at all. St. Paul drivers who are considering ending their car lease with about a year left on the lease term should consider the following:

  • Reason for Ending the Lease: If your reasoning for ending your car lease early is something minor like not liking the color of your vehicle or not being interested in the interior design, then this may not be a big enough reason to justify the potentially heavy penalty fees you may end up paying. However, if you’re moving out of state, or if the vehicle just doesn’t work for your lifestyle anymore, then it may be worth it to end the lease early.
  • Cost of Potential Fees: If there are early cancellation penalty fees in your lease contract, then you’ll want to know how much you’ll end up paying in fees before ending your lease early. The number of penalty fees you’ll end up paying will vary depending on how early you are into the lease before you decide to end it.
  • Policies of the Leasing Company: Always ask about the policies of canceling a lease early before signing a lease in the first place. Sometimes, your leasing company may be able to negotiate any fees or other aspects of the contract with you if you’re in a tough situation financially.

 

If you’re considering ending your lease early, then learn how to negotiate a lease buyout with Jaguar Richfield Certified Pre-Owned & Service. Otherwise, reach out to our finance center online, or swing by or dealership near Edina to speak with one of our team members in person.

Learn About Your Options in Richfield

Can you return a leased car within 30 days? The specific answer to that question will depend on your leasing contract and company. Contact us to get all of your leasing questions answered and learn other important car-buying information.

 

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